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The Boise Angel Alliance Celebrates 10 Years and over $2 million Invested in Idaho
The Boise Angel Alliance is celebrating 10 years. In this time the Alliance has organized over 75 accredited investors into three funds totaling nearly $4 million. Those funds have invested over $2 million and created 275 jobs in Idaho.
Over the course of 10 years the Boise Angel Alliance has gone from a group of individual investors to an organization that builds million dollar investment funds.“ When we first came together back in 2004, we had one goal in mind: to get more capital flowing through the startup economy here in Boise,” says Mary Andrews who was recently re-elected President of the Boise Angel Alliance. “We’re proud of what we’ve accomplished, but there remains a strong need to grow our network of investors.”
Kevin Learned, past President and investor in all three funds explains why the group started forming funds: “We learned that we’re smarter as a group. When you’re trying to make a decision whether or not to invest money in an early stage company, you’re limited by your own education and experience. When we form funds and make decisions as a group, we get 20-30 people in the room with very diverse backgrounds. It’s still risky, but we’re making more informed decisions.”
Under Andrews’ direction, the Boise Angel Alliance has rededicated itself to serving local angel investors. This happens through regular workshops on topics like how to conduct Due Diligence, and how to determine the overall company value with early stage ventures. “A couple times a year we bring in an expert to lead workshops for investors, entrepreneurs, and service providers,” Andrews says. “We recently had an investor retreat in Sun Valley with the Ketchum area angels, which was both educational and a lot of fun.”
The Boise Angel Alliance will also train local service providers to help entrepreneurs prepare to pitch investors for investment. The group held its first workshop on July 31st. The workshop covered the investment criteria, application process, and the due diligence process entrepreneurs can expect if they approach the Boise Angel Alliance.
Ultimately the Boise Angel Alliance aims to serve angel investors and contribute to the local entrepreneurial ecosystem. Andrews elaborates, “Sure, investors intend to make a financial return on their investment. Members of the Boise Angel Alliance also intend on investing in opportunities that will lead to new jobs in Idaho. We all stand to gain in the long run when locals invest locally.”
For more information visit www.boiseangelalliance.com.